Stagnito Media, a b-to-b media company serving the grocery and convenience store markets, has been acquired by Topspin LBO, a Long-Island-based private equity firm.
The deal will give Stagnito the resources it needs to continue its growth, says CEO Harry Stagnito, particularly in marketing services and data and information products. While he wouldn't reveal the terms of the deal, the company grew 26 percent in revenues during 2011, with print representing 60 percent of overall revenues, digital 20 percent and marketing services and events at 20 percent.
"Print is growing, it's not going backwards," clarifies Stagnito. "Our whole pie is getting bigger as these other areas continue to grow. I believe very strongly in print as we increase our share of market."